Skip to comments.The Wealth of a Nation
Posted on 04/02/2012 6:45:36 AM PDT by InsightSur
At the end of the 19th century, Argentinas economy transformed from a backwater, to a growth engine rivaling the wealthiest countries in the world in terms of growth, and GDP per capita.
At its height, the countrys income per capita was comparable to that of France, Germany, and Canada, and reached 80% of the per capita income seen in the United States from 1880 to 1905. Yet today, the country is a frustrating example of the bad economic policy. There is a general sense of indignation from a country that was one of the wealthiest in the world a century ago. Indignation over a lack of responsibility, indignation over stagnation which has left the country in economic slumber for the past few decades, and frustration in a nation which collectively believes in its own potential yet faces a reality of crushing mediocrity.
Argentinas economy was driven by the energy of entrepreneurial spirit at the turn of the century. Exports of livestock and other goods translated to a trade surplus, and the countrys GDP and PPP increased to levels since unseen in Latin America.
For approximately 40 years, Argentina was a powerhouse. It was the envy of the region, and rivaled the best of the world.
Behind this engine, was a foundation laid in place by Argentinian founding father Juan Bautista Alberdi...
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“There is no better social program than people working real paying jobs and keeping the fruits of their own labor.”
Isn’t it ironic then, that authoritarian ideologists (such as the current Cristina Fernández de Kirchner) get reelected based on their rhetoric regarding social programs and “the working people,” and yet the results are contradictory?
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